S&P 500 3153,11 +13,11
Despite the perspective of Thanksgiving and a long week-end, the stock market continued to creep higher and closed at a record level. Breadth was still strong : 2334 stocks advanced compared to 1398 that settled down. The cumulative advance/decline closed also at a record, implying that internal momentum is still very strong. Daily sentiment indicators are fairly neutral and the weekly investment survey among private investors improved from one week to the other, bullish sentiment is actually neutral. For the time being, this bull market doesn’t offer any chance to market participants that missed the upmove since early October.